GETTING STARTED

How is Financial Aid Awarded?

Student financial aid programs are a valuable financial resource for eligible students to access postsecondary education; however families still are responsible for assisting with their students' total educational costs.

Student financial aid is based on demonstrated financial need, academic achievement, ability or academic major.

Financial need is calculated by a standard federal formula:

Estimated Cost of Attendance – Expected Family Contribution (EFC) = Financial Need

Your cost of attendance includes tuition, fees, room and board, books and supplies and other school-related expenses.

MACC's cost of attendance
Actual tuition and fees

Your expected family contribution is what the federal government expects you and your family to contribute toward your educational expenses.

Your EFC is calculated when you complete the Free Application for Federal Student Aid (FAFSA).

Your EFC is not the amount you must pay your school.

Some financial aid programs base awards on academic achievement, abilities (like athletic or artistic talents) or your academic major. Eligibility for each of these programs normally is based on standards determined by the school, a state agency or a private organization.

How Do I Apply for Financial Aid?

The Free Application for Federal Student Aid (FAFSA) must be filed each year to be considered for any financial aid. If you applied for financial aid the previous year you may use your Renewal FAFSA to apply instead of an original FAFSA form. Simply add MACC to the "college release" section (Title IV Code 002491) and your information will be sent to us. Original FAFSA's are available from your high school guidance office, from the Financial Aid Office, by calling (800)4-FED-AID, or at the FAFSA web site.

Please Note : During the aid application process you may be chosen for Verification. In order to verify information reported on the FAFSA, the process requires copies of tax returns and a completed verification worksheet to be submitted to the Financial Aid Office. If you are one of the randomly selected students picked for verification, you will receive the message on your Student Aid Report and also notice from the Financial Aid Office. Thirty to forty percent of our student population will be randomly selected for this verification process. Any financial aid offer will be contingent upon completion of this verification. To download a verification worksheet, visit the Financial Aid Forms page.

Quick Reference

All The Roads to Financial Aid Start Here

Federal & State Aid

This page maintained by: MACC Financial Aid Dept. FinAid@macc.edu

Updated: Mar 30, 2004

URL: http://www.macc.edu/~finaid/gettingstarted.html